Goldman Stuck With a Defense Tab, and Awaiting a Payback

Goldman Sachs has paid for the bulk of Mr. Gupta’s legal defense, which has cost nearly $30 million, according to two people with direct knowledge of the case who requested anonymity because they were not authorized to discuss it publicly. Procter & Gamble, on whose board Mr. Gupta also served, has picked up the balance of the bill….

But with Friday’s guilty verdict, Goldman has moved a step closer to getting paid back. Under a deal reached well before the trial, Mr. Gupta agreed that if he was found guilty of insider trading, he would reimburse the bank for the legal fees advanced to him….

via Goldman Stuck With a Defense Tab, and Awaiting a Payback – DealBook